Secondary Functions of a Bank

Q. The facility by which depositors can withdraw amounts greater than their deposit amount is called facility.

1. transfer
2. interest
3. overdraft
4. letters of credit

Q.

The facility by which depositors can withdraw amounts greater than their deposit amount is called:

1. Letters of Credit facility

2. Overdraft facility

3. Transfer facility

4. Interest facility

Q. Distinguish between demand deposits and fixed deposits.